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Cash Accounts receivable Inventory Land Building Accumulated depreciation Total Accounts payable Common stock ($5 par) Retained earnings Total SWIFTY CORPORATION Balance Sheets December 31 (a) (b) (c) Current ratio 2022 $12,500 18,400 Swifty's 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. You must compute dividends paid. All dividends were paid in cash. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) 13,200 10,200 34,200 30,200 76,200 76,200 (17,200) (14,200) 137,300 135.100 19,500 74,500 Inventory turnover 43,300 137,300 Days in inventory Accounts receivables turnover 2021 $6,100 26,600 Average collection period 33,300 74.500 27,300 135.100 days days

Cash Accounts receivable Inventory Land Building Accumulated depreciation Total Accounts payable Common stock ($5 par) Retained earnings Total SWIFTY CORPORATION Balance Sheets December 31 (a) (b) (c) Current ratio 2022 $12,500 18,400 Swifty's 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. You must compute dividends paid. All dividends were paid in cash. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) 13,200 10,200 34,200 30,200 76,200 76,200 (17,200) (14,200) 137,300 135.100 19,500 74,500 Inventory turnover 43,300 137,300 Days in inventory Accounts receivables turnover 2021 $6,100 26,600 Average collection period 33,300 74.500 27,300 135.100 days days

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Cash Accounts receivable Inventory. Land Building Accumulated depreciation Total Accounts payable Common stock ($5 par) Retained earnings Total (a) (b) (c) (d) (e) SWIFTY CORPORATION Balance Sheets December 31 (f) (8) (h) (1) (1) Current ratio Inventory turnover Days in inventory Profit margin Asset turnover Return on assets $12,500 Swifty's 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. You must compute dividends paid. All dividends were paid in cash. 2022 Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) Earnings per share 18,400 Payout ratio: 13,200 34,200 Accounts receivables turnover Average collection period Toutheal and Media 76,200 (17,200) 137,300 19,500 Debt to total assets ratio 74,500 43.300 137,300 2021 $6,100 26,600 10.200 30,200 76,200 (14,200) 135.100 33,300 74.500 Return on common stockholders' equity 27,300 135,100 $ days days % % % % %
Transcribed Image Text:Cash Accounts receivable Inventory. Land Building Accumulated depreciation Total Accounts payable Common stock ($5 par) Retained earnings Total (a) (b) (c) (d) (e) SWIFTY CORPORATION Balance Sheets December 31 (f) (8) (h) (1) (1) Current ratio Inventory turnover Days in inventory Profit margin Asset turnover Return on assets $12,500 Swifty's 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. You must compute dividends paid. All dividends were paid in cash. 2022 Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) Earnings per share 18,400 Payout ratio: 13,200 34,200 Accounts receivables turnover Average collection period Toutheal and Media 76,200 (17,200) 137,300 19,500 Debt to total assets ratio 74,500 43.300 137,300 2021 $6,100 26,600 10.200 30,200 76,200 (14,200) 135.100 33,300 74.500 Return on common stockholders' equity 27,300 135,100 $ days days % % % % %
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